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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
[ ] Check this box if no longer subject of Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
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1. Name and Address of Reporting Person*
Fribourg Paul J.
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(Last) (First) (Middle)
c/o Continental Grain Company
277 Park Avenue
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(Street)
New York NY 10172
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
ContiFinancial Corporation - CFN
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year
9/98
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[ X ] Director [ X ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
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7. Individual or Joint/Group Filing (Check applicable line)
[X] Form filed by one Reporting Person [ ] Form filed by more than one
Reporting Person
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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<TABLE>
<CAPTION>
<PAGE> 6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
See
Common Stock 9/2/98 P 5,000 A $12.50 37,000 I* Exhibit A
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See
Common Stock 35,918,421 I** Exhibit A
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</TABLE>
* If the Form is filed by more than one Reporting Person, see Instruction
4(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
Page 1 of 3
<PAGE>
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially
Owned (e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
9. 10.
Number Owner-
of ship
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
of Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
N/A
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</TABLE>
Explanation of Responses:
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**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedures.
Alternatively, this Form is permitted to be submitted to the Commission
in electronic format at the option of the reporting person pursuant to
ruke 101(b)(4) of Regulatiob S-T.
Page 2 of 3
<PAGE>
(122797DTI)
EXHIBIT A
Name and address of Reporting Person: Paul J. Fribourg
c/o Continental Grain Company
277 Park Avenue
New York, NY 10172
Issuer Name and Trading Symbol: ContiFinancial Corporation - CFN
Statment for Month/Year 9/98
Explanation of Responses
* The shares were purchased by the Paul Fribourg Family Limited Partnership, in
which the Reporting Person is the general partner and the limited partner is a
trust, the beneficiaries of which are immediate family members of the Reporting
Person residing in his household. By virtue of this the Reporting Person may be
deemed the beneficial owner of these shares. The Reporting Person disclaims
beneficial ownership of these shares except to the extent of his pecuniary
interest therein.
** The Reporting Person is the President and Chief Executive Officer of
Continental Grain Company, the controlling shareholder of ContiFinancial
Corporation, and as such the Reporting Person may be deemed the beneficial owner
of these shares. The Reporting Person disclaims beneficial ownership of these
shares except to the extent of his pecuniary interest herein.